(Photo: Business Korea)
Samsung Electronics has sought to reassure users of its new mobile payment system after a hacking attack on the subsidiary that built its technology.
The South Korean company’s statement on Thursday followed a New York Times report that LoopPay, acquired by Samsung in February, had fallen victim to a group of Chinese hackers known variously as the Codoso Group or Sunshock Group. The report said the hackers had access to LoopPay’s computer network since at least March, until being discovered in August.
Samsung confirmed the attack but said there was no risk to users of Samsung Pay, which launched in the US on Monday. The system enables users of its newest high-end phones to pay for items in shops using the devices, and runs on a system developed by LoopPay.
The original article can be found at www.ft.com